Cryptocurrency Exchange Startups Vie for Bitcoin Buyers

By Grit Daily Staff Grit Daily Staff has been verified by Muck Rack's editorial team
Published on August 26, 2021

People are becoming increasingly interested in purchasing cryptocurrencies. There is no need to be surprised, as this is seemingly an amazing investment option for almost anyone. The most well-known cryptocurrency is, of course, Bitcoin (BTC). It may look really difficult to invest in this crypto, but it is much simpler than it appears. Do not forget that you can also use this cryptocurrency to buy loads of goods and services. But, firstly, you have to purchase it. So what exactly do you have to do to buy Bitcoin, and where can you purchase it?

A cryptocurrency exchange account, personal identification documents if using a KYC platform, a secure internet connection, and a payment method are all required for any new Bitcoin investor. It is also a good idea to keep your wallet and exchange account separate. But first, you need to choose an exchange. It allows you to buy, sell, and hold cryptocurrency after you sign up. The fees charged by different exchanges differ. You might consider a variety of options before settling on the best one. If you have a hard time choosing the right one – consider CoinGate.

CoinGate is a fintech company based in Lithuania that was founded in 2014. It has become a go-to payment processor for many due to permission-based account management and a brand new electronic mail billing function. By providing several methods for setting up cryptocurrency payments for any webpage or physical store, the company is putting cryptos closer to public acceptance. CoinGate, in addition to merchant services, offers a platform for buying and selling multiple crypto-assets with a single payment. All customers can use credit or debit cards, bank transfers, or smartphones to make purchases. You may be wondering from where CoinGate gets its exchange rates? Basically, from a variety of cryptocurrency exchanges around the world. They select the best price for you and show it on their homepage. You may also be wondering – what are the costs associated with using CoinGate’s services? A 1% flat fee is usually charged for merchant payment processing and 3% from each buy or sell order for traders.

Connecting your exchange to a payment option is another important step. You will need to gather your personal documents first. This could include images of your driver’s license, your social security number, information about your employer, and your source of income, depending on the platform. In any case, the information you require may be influenced by your geographical location. You can now connect a payment option after the exchange has confirmed your identity. While it is possible to buy cryptocurrency with a credit card, it is generally recommended to avoid doing so due to the volatility that cryptocurrencies can experience. Anyway, you can now buy Bitcoin after selecting an exchange and connecting a payment method.

All in all, cryptocurrencies are becoming increasingly popular on a daily basis. Many people believe it is an excellent investment. It may appear difficult to obtain, but it is actually quite simple. Just choose a safe exchange platform and a method of payment. You might want to try a few different exchanges before settling on the best one. Do not be afraid to sign up for a few different platforms and try them all out. They are all very different, so trying more of them can be a great idea. And never forget to get yourself an online wallet. Anyway, that is basically all there is to it if you want to get your hands on some cryptocurrencies. The instructions for doing so may also be found on your preferred platform.

By Grit Daily Staff Grit Daily Staff has been verified by Muck Rack's editorial team

Journalist verified by Muck Rack verified

Grit Daily News is the premier startup news hub. It is the top news source on Millennial and Gen Z startups — from fashion, tech, influencers, entrepreneurship, and funding. Based in New York, our team is global and brings with it over 400 years of combined reporting experience.

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